KeyCorp Weighs in on Penske Automotive Group, Inc.’s Q1 2018 Earnings (PAG)

Penske Automotive Group, Inc. (NYSE:PAG) – Equities research analysts at KeyCorp issued their Q1 2018 earnings per share estimates for shares of Penske Automotive Group in a report released on Friday. KeyCorp analyst I. Hodakovsky anticipates that the company will earn $1.28 per share for the quarter. KeyCorp also issued estimates for Penske Automotive Group’s Q2 2018 earnings at $1.45 EPS, Q3 2018 earnings at $1.28 EPS and Q4 2018 earnings at $1.19 EPS.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. Penske Automotive Group’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Monday. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Bank of America lifted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Finally, Gabelli lifted their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.57.

Shares of Penske Automotive Group (NYSE:PAG) opened at $49.18 on Monday. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.86. The company has a market cap of $4,220.00, a P/E ratio of 6.88, a P/E/G ratio of 1.38 and a beta of 1.45. Penske Automotive Group has a 1-year low of $38.33 and a 1-year high of $54.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 9th. Penske Automotive Group’s payout ratio is currently 18.46%.

Penske Automotive Group declared that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in PAG. BlackRock Inc. grew its stake in Penske Automotive Group by 118.2% in the 4th quarter. BlackRock Inc. now owns 3,733,276 shares of the company’s stock valued at $178,636,000 after buying an additional 2,022,283 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Penske Automotive Group in the 3rd quarter valued at approximately $22,206,000. Fiduciary Management Inc. WI grew its stake in Penske Automotive Group by 26.9% in the 3rd quarter. Fiduciary Management Inc. WI now owns 1,849,553 shares of the company’s stock valued at $87,983,000 after buying an additional 391,808 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Penske Automotive Group in the 3rd quarter valued at approximately $17,842,000. Finally, Koch Industries Inc. purchased a new position in Penske Automotive Group in the 2nd quarter valued at approximately $315,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

Earnings History and Estimates for Penske Automotive Group (NYSE:PAG)

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